Abou El-Enein: Amendments to Capital Market Law Provide New Funding Methods for All State Sectors

Deputy Speaker Mohamed Abou El-Enein praised the House's Economic Affairs Committee for its report on the amendments to the Capital Market Law.

This came on Sunday during a plenary session, while discussing the report of the committee on the draft law submitted by the government.

Abou El-Enein stressed that the amendments included in the draft law indicate that it is an unconventional bill, that will allow new method of funding for all state sectors at the same time.

[caption id="attachment_316988" align="aligncenter" width="960"] Deputy Speaker Mohamed Abou El-Enein during a plenary session on Sunday, Feb. 20,2022[/caption]

The deputy speaker explained that all projects will be allowed, through this law, to issue bonds on the capital market, which would guarantee cash flows, allowing all government agencies to finance future investment projects through the issuance of bonds.

The MP stressed that these funds will be low-cost, praising the draft law, approved by remote voting, saying: It is one of the pillars of this law, especially in light of the use of technology and new methodologies.

He stressed the need to market this law to maximize benefits from it.